The Permian Basin Area Foundation celebrated its 25th anniversary at the Petroleum Club Thursday evening by announcing that the foundation’s assets have exceeded $100 million and that more than $60 million in grants and scholarships have been awarded.

“As we celebrate our 25th anniversary, we can look back with great appreciation for all those who have played a part in the development of Permian Basin Area Foundation,” Guy McCrary, president and CEO, said. “But this juncture in our history is not a destination, it is merely a landmark of our progress. The mission of Permian Basin Area Foundation is being accomplished. But its work is not completed.”

In addition, the foundation announced that it has already received nearly $350,000 in gifts for the Anniversary Endowment that was created earlier this year.

McCrary said that while the foundation welcomes donations to the new endowment, the first grants from the unrestricted fund will be made in the spring.

Among the causes benefiting from the funds managed by the foundation are overcoming addiction, supporting the elderly, empowering those with disabilities and encouraging the pursuit of education.

“Thanks, Guy, and all of the staff, both today and in the past, for helping to fulfill the dreams and objectives of the many contributors who have provided to the foundation with the resources to accomplish its mission,” said Mike Canon, chairman of the PBAF board of governors. “(But) thanks most especially to the many donors who have helped with their gifts, large and small to make the dreams and aspirations that the foundation represents come true.”